Bangalore based tech-enabled logistic company Blackbuck has secured a fresh investment of $27.4 million (202.96 crore) from a clutch of new as well as existing investors. The fresh capital infusion takes the total amount raised by the company to $135.1 million. The fresh round of investment values the firm to about $190-195 million.
VC firm Sequoia Capital India has led the investment round as per the Ministry of Corporate Affairs (MCA) filings by the firm. Existing investors, Accel Partners and Sands Capital also participated in the investment round. Tiger Global Management, Sands Capital Ventures, and InnoVen Capital, e-commerce giant Flipkart is the other marquee investors who have pumped money in the company.
Indian Institute of Technology-Kharagpur alumni Rajesh Yabaji, Chanakya Hridaya, and Ramasubramaniam B had started the company in 2015 which focuses on B2B logistic offerings for long-haul trucking. Through the online marketplace, BlackBuck helps shippers and truckers join hands for inter-city freight transportation.
The company claims to have their presence in more than 1,000 locations with more than 200,000 trucks and 8,500 shippers in the online marketplace across the country. Top companies like Asian Paints, Unilever, Coke, Britannia, Godrej, Marico, Jyothy Laboratories and EID Parry are the customers of the three-year-old startup. Notably, the company has grown amazingly in the past couple of years. The 2017 financial year saw the firm generate Rs 556 crore in revenue, reaching the operational profitability.
With the logistics segment in the country growing at a fast pace, the fresh infusion will help Blackbuck grow even quicker.